Fireblocks acquires TRES Finance in $130 million deal
Deal brings blockchain financial reporting platform and its entire team into Fireblocks.
Fireblocks has acquired Israeli startup TRES Finance, an enterprise platform for financial data and reporting for digital assets, in a deal valued at approximately $130 million.
TRES Finance was founded by Tal Zackon, CEO, who previously worked at F2 Capital, and Eilon Lotem, CTO, who has been on extended reserve duty since October 7. The company employs 58 people, 35 of them in Israel, with the remainder based in Europe and the United States. The entire TRES team will join Fireblocks following the acquisition.
TRES powers financial compliance for digital asset operations by transforming complex blockchain activity into accurate, structured, audit-ready data. The platform automates reconciliation, reporting, and accounting across more than 280 blockchains, exchanges, banks, and custodians.
TRES Finance has raised approximately $18.6 million to date, including a $7.6 million Seed round in 2022 and an $11 million Series A round in September 2023.
Fireblocks completed a $550 million Series E funding round in 2022, valuing the company at $8 billion. The company has raised approximately $1 billion in total funding.
This is Fireblocks' second acquisition in three months after buying Dynamic, a crypto wallet development platform that supports over 50 million accounts, in a deal valued at roughly $90 million, in October. That acquisition marked Fireblocks’ first major step into consumer-facing digital asset infrastructure, expanding beyond its traditional base of banks, exchanges, and institutional payment providers.
Fireblocks provides a secure infrastructure layer that enables organizations to build, manage, and expand their operations in the digital asset space. TRES adds a financial intelligence layer that translates on-chain activity into accurate, audit-ready financial records that comply with the standards of financial institutions.
“The TRES team has built the financial record-keeping behind onchain activity, delivering clean, audit-ready data for institutions operating at scale,” said Zackon. “Joining Fireblocks allows us to extend this capability globally and help create the end-to-end financial stack institutions will rely on as the world moves onto blockchain rails.”
Michael Shaulov, Co-founder and CEO of Fireblocks, said: “With digital assets now part of day-to-day financial operations, both crypto-native firms and traditional institutions need clear, accurate accounting and auditability. Crypto companies must meet higher standards around tax reporting and disclosures, while banks and fintechs need reconciliation and controls that align with their existing ERP and ledger systems. By bringing TRES into the Fireblocks ecosystem, customers can now run both their operations and their back-office finance on one secure, compliant, and scalable stack.”
